Square Inventory Management Review
One of the leading payment processing and point-of-sale providers on the market.
Square Inventory is a free way for you to manage inventory. You can get set up on the platform quickly and benefit from downloadable reports and stock alerts.
In this review we take you through how Square Inventory works, the features and how to decide if it's right for your business.
What is Square Inventory?
Square Inventory is a complete inventory register service that comes with a suite of tools, from tracking sales and inventory to rich analytics. It's a free platform that prioritises speed and ease of use so you can easily manage your inventory.
How does it work?
The platform is relatively simple and requires only a few steps to get started. First, you need to import your inventory using a CSV spreadsheet. You can also set each item up individually.
The platform requires you to keep records of incoming and outgoing stock. Every time you sell or buy an item you adjust your stock levels.
How much does Square Inventory cost?
Square Inventory's management feature is free for anyone with a Square account. The free account lets you track inventory items and perform other basic inventory management tasks. The Square point-of-sale system offers many more features. (IMPORTANT: The below prices are in USD)
Here's the breakdown of plans and prices for Square Inventory:
- Free retail POS app and online store with basic inventory tools: Free
- Advanced inventory controls and retail reports alongside unlimited team management: $60.00 USD
- Discounts on Square Payroll, Square Loyalty, and Square Marketing: $299+ USD
With the Square Point of Sale app, you'll pay the following fees per transaction:
- 1.75% for each tapped (contactless), inserted (Chip + PIN) or swiped card-present transaction.
- 2.5% for each card not present transaction.
What features come with Square Inventory?
Here are some of the features you can expect when using Square Inventory:
- Mobile access. You can log in from any mobile device with Internet access and make adjustments in real time.
- Manage stock. Adjust your stock levels and add notes to help with future counts. Add notes like "recount" "theft" or "return" to ensure your stock levels are accurate and up to date.
- Stock alerts. Square will let you know when an item is running low. From your dashboard, you can enable alerts or ask to receive emails.
- Edit items. Quickly make changes to the names of products, quantities, pricing via the app or the dashboard.
- Modifiers. Customise any product easily by adding optional or forced modifiers.
- Customer service. Square Inventory offers live support during work hours, email support and an impressive customer support page with troubleshooting issues.
- Build a store. Square Inventory includes a free online store, which is both professional looking and easy to build. Sell e-cards and integrate it with your Instagram account.
Pros and cons
- Free with any Square account
- Easy to use and intuitive dashboard features
- Can accept thousands of items.
- Add and change the names of items at a click of the button
- You can immediately access the back office and import thousands of products with CSV files
- Easy to edit and customise items and create modifiers.
- Limited warehousing features
- Lack of invoicing features
- Lack of manufacturing features
- Features not very robust
- Manual process to monitor stock
Square Inventory is a basic inventory management solution. It's cost effective and if you're familiar with the Square dashboard, you will find this software extremely easy to pick up and use.
Square Inventory doesn't offer all the inventory features that you'd find using other services, but if you're looking for convenience, it may surpass some of the more expensive inventory management services. However, Square Inventory's limited features can be a problem for larger, more complicated businesses that need to process a lot of items. Square Inventory also won't be the best option if your company sends invoices, requires lots of warehousing features, or maintains strict supply chain control.
Compare other inventory management software in Australia
How does Square stack up? Compare the features below.